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MERCHANT SHIPPING ACT 1894 - SECT 31

31.(1) A registered ship or a share therein may be made a security for a loan
or other valuable consideration, and the instrument creating the security (in
this Act called a mortgage) shall be in the form marked B in the first part of
the First Schedule to this Act, or as near thereto as circumstances permit,
and on the production of such instrument the registrar of the ship's port of
registry shall record it in the register book.

(2) Mortgages shall be recorded by the registrar in the order in time in which
they are produced to him for that purpose, and the registrar shall by
memorandum under his hand notify on each mortgage that it has been recorded by
him, stating the day and hour of that record.

© 1894 Crown Copyright

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